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warranted. however, u.s. industrial and consumer products going to panama face an average duty of 7%. and u.s. agricultural exports face an average tariff of 15%. implementing this agreement will level the playing field for u.s. exporters by drastically reducing or ending panama's tariff on u.s. goods. most u.s. consumer and industrial products will immediately become duty-free as will half of u.s. farm exports. any remaining tariffs will decrease quickly thereafter. opening panama's market will be a boone for u.s. companies, workers and farmers. the panamanian economy is rapidly growing and is expected to more than double by 2020. panama is already one of the largest markets for some u.s. exporters and service firms. the importance of panama will only grow for these firms and others as we gain greater access to this expanding economy. this is also true for our farmers. whose exports to panama are expected to significantly increase under the agreement. not only will american farmers benefit from lower tariffs into panama, they will also benefit from the removal of nontariff and regu
about gp growth. i think it is quite difficult to compare iranian gdp growth with u.s. gdp growth. the iranian economy is about $800 billion in g8. the u.s. is $14.60 trillion. iran is about 5% size of the united states. it is heavily dependent on the oil sector. when oil prices increase as they have in the last year or so, that has a disproportionate effect on the gdp growth in iran. >> let me correct you -- already in gdp was $338 billion in 2008 and $357 billion in 2010. it is about a 5.5% growth over that time. >> the imf projects gdp growth not just for iran and the u.s. but for other countries in the middle east who are oil producers -- looking at just the countries in the middle east that are oil producers, iran is the lowest of all those countries in projected gdp growth. its projected gdp growth by the imf is less than half of the average projected gdp growth of other middle eastern oil exporting countries. i think that is the comparison, iran verses other middle eastern countries that are dependent on the x or taken of oil for their gdp -- on the exportation of oil for t
of things they can use to be basically. >> did you want to comment? >> i think i agree with you that i believe we should look at it. we have a different color coming in every year. how do we know what the future will look like? what people are looking for in their retirement system. it may make the military more enticing to come and if an individual thinks they may have something they can take with them. also, even though you have a gi bill, i think that is an outstanding benefits. whistle have an individual who will be separated possibly during drawdown with 12 years of service. i think we need to look at that. that is what we will do. >> to read very much. we will proceed to mr. kaufman of colorado. >> i guess my first question is, some of the testimony reference to that it is a relatively low percentage of payroll that supports the retirement system but nobody has said what that is. i wonder if somebody can give me a percentage number. >> at this point we have some of the numbers i would like to take a for the record, please. >> very well. i just think -- first of all, i agree with
their currency and korea is one of only three nations on earth identified as a currency manipulators by our own u.s. terror treasury. does this adeprement preclude currency manipulation? it does not. they remake their val added taxes to all their exports. build a car in korea, don't pay taxes in korea. build a car in the u.s., we cant rebate the taxes under thescurrent laws and when the u.s. car gets to the border of korea, they pay a 10% tax. we'll export autos to korea if they're 20% cheaper than those produced by cheaper labor in koa, not very likely. but let's sa we could. if you buy a u.s. car and you're a korean citizen, they'll audit your taxes. most employers do not allow owners offord automobiles, which are mostly luxury automobiles over there, there are very few foreign automobiles, to have parking spaces at work. and korea does not buy very many cars. they have a 65% mix, 65% of the cars they produce are exported. this is not about u.s. exports to korea. it's a platform for them to send us stuff here. that's cheaper and displace american jobs. even the u.s. international trade council, t
, even suggesting that it would be impossible to pull off and questioning how iran would ever use a mexican drug cartels for a terrorist attack on american soil. but i would note, in the september 11 attacks from the 9/11 commission pointedly stated -- and this was their conclusions across the government, it was imagination, policy, and government -- capabilities and management. we do not believe leaders understand the gravity of the threat to our leaders completely understand the gravity of the threat? that is the essence of what we are trying to ask today. it appears to me that our government risks the failure of imagination. it may not fully be considering the gravity of the iranian threat. this is a game changer and represent crossing of the red line by iran. for many members of this kiddie-committee is not surprising. witnesses testified that iran, both directly and through it plot -- its proxy, hezbollah, had its tentacles from the entrenched in latin america, venezuela, and into mexico. one witness testified that hezbollah was sharing underground tunnel technology with the
that this administration does not want to use the terms radical islam about the people who are radical islamists. and when you get to digging a little deeper, you find out that the o.i.c., islamic group, figured out that we need to go on the attack and start calling anybody who mentions radical islam as an islamaphobe. and if you give universities, great universities, proud heritage in this country, massive amounts of money, you can also get them to teach seminars on this. you can get them to teach courses on this. and you can paint the picture that anybody, no matter how open-minded, no matter how well red and studied theyr you call them islamapho bmp es and maybe it will catch on and call radical islamists what they are. i don't know anybody that was in judiciary today that believes that muslims are terrorists. they're not. the only disagreement among those i know concerned about radical islam is whether the radical islamists, 1%, 5%, maybe a little more, some might say as much as 10%, but at least 90%, maybe 99% of muslim are peace-loving people. and if you have a muslim friend, they are your true frie
is recognized. mr. filner: i yield myself such time as i may consume. the bill before us sponsored by congressman walz would ensure that men and women of our national guard and reserve receive the distinction of being called veterans. it is a simple thing but it is denied them. representative walz introduced them in the last congress and didn't clear the senate so we have to try again. our guard and reserve comprise a large component of those called to serve and those changing dynamics need to be incorporated. this bill strikes the desired balance and full supporter of the bill and i would yield to the author of the bill, congressman walz as much time as he may consume. the speaker pro tempore: the gentleman from minnesota is recognized. mr. walz: thank you to the ranking member as well as being a staunch supporter of this and other legislation to secure the rights and benefits for our veterans and i thank mr. runyan for his support on this and other bills and appreciate all the things that are moving today. special thank you to chairman miller, majority leader and majority whip wh
is a member of the u.s. house of representatives, representing the 11th congressional district in texas who announced his run to become gop for president of united states this past july. he is known as the intellectual godfather of the tea party movement. our guest has called for a reduction in government that go beyond those advocated by other conservatives. he wants to abolish most federal agencies including the irs and the federal reserve and returned with monetary -- our monetary system to something akin to the gold standard. he has proposed a constitutional amendment that would abolish personal income, state and give texas, and for that the government from engaging in business in competition with the private sector. back in 2002, he was among the six republicans who voted against giving president george w. bush authority to use military force in iraq. he says the resolution was unconstitutional because it transferred the right to transport -- to declare war from congress to the executive branch. he has remained a consistent critic of war in foreign lands. in 2010, and barney frank, vot
by the proponents to dispel the misinformation and 105 by those of us who are opposed to these job-killing trade agreements. that's fair. 165 on their side, 105 on our side because their arguments are honest -- our arguments are honest and theirs aren't. that is how things break around here. that's clengy debate. let's talk about colombia. in colombia the average income is $3,200. think of all the u.s. manufactured goods those colombians are going to buy with $3,200 of income. whoa. thousands of americans go to work. does that remind you of the myth about nafta? no, this is about yet one more platform to get an access of abused labor, unorganized labor under colombian law, to provide -- to send goods back to the united states of america. mr. mcgovern: i yield the gentleman an additional 30 seconds. mr. defazio: i thank the gentleman. and then there's the issue of, yes, we will get some moring a kilt exports. insignificant to our industry. won't employ any americans. may employ some more people who are in this country to harvest the crop. but it will cut dramatically into the principle form of em
the oversight. just three weeks ago, we had the undersecretary before us, talking about where dod is moving into 2017. i was delighted as i listen to the radio and heard your reference and trying to expedite the process getting to that clean audit. two words of caution. one, it is so import we get their cousin allows better management of resources. but that it be true systemic changes, not a heroic effort to get a clean audit. the referenced the neck to controls, internal controls is where it is at. the second is that over 12 years we spent over a billion dollars and did not get a result from the billion dollars of taxpayer funds. we learn from that not to repeat that. but your leadership on financial management on the civilian side and general dempsey on the uniform side will be key. this is making sure that we have the resources to provide the training, equipment are men and women need and we do right by them and their families. a final one, beyond the scope of the hearing, but just a concern i have regarding our efforts in afghanistan. that is when the president announced the surge, whic
discuss farming in the u.s. and the future of farming and agriculture. washington journal live up friday at 7:00 a.m. eastern here on c-span. >> last week, secretary of state clinton traveled to islam by to talk to pakistan paltry government about taking more aggressive action against the haqqani network, a militant group that also operates in afghanistan. secretary clinton talked about her trip and outlined u.s. foreign-policy policies. then, a number of u.s. military leaders discuss budget cuts and military readiness. the house passed a measure that would repeal a requirement that the government revert taxes from payments to contractors. that debate is later. although this headline proved false, dewey's defeat by harry truman was iconic and he continued to impact political history. this week on "the contenders," follow the career of thomas dewey who influenced national politics in the election of dwight eisenhower and richard nixon live from the roosevelt hotel in new york city friday at 8:00 p.m. eastern on c-span. >> next, secretary of state hillary clinton cautioned congress
to expand economic opportunity, to make the u.s. stronger and more secure. her historic campaign for president created 18 million cracks in the glass ceiling, and made it clear to every girl in america that anyone can be president of united states. and, of course, as secretary of state at the moment of great change in the world, secretary clinton reasserted and redefine america's global leadership, and secured it for the 23rd century. she saw sustained american leadership as a key to advancing our values and creating a world where more people can live up to their potential, "we still call the american dream. she has elevated the role of economics in foreign policy and has transformed the way america conduct development, partnering with new institutions and actors in emerging power. she championed civilian national security institutions and worked to make them effective partners with our military. she is our rock star diplomat. secretary clinton, welcome. [applause] >> thank you, john. thank you all. it is wonderful to be here with a lot of familiar faces. it is also good to see s
of online gambling. can you tell us what options are on the table right now? as i understand, there is a bill to legalize it in the united states? guest: there is a bill to legalize it for poker only come up but we passed recently a bill in congress to say no internet gambling on the internet. we did this by outlawing the use of credit card and money orders and money transfer, and that pretty much stopped it. now it has all gone overseas and done illegally. the people that are advocating internet gambling are saying because is going overseas, we're losing the tax revenue, and also, there is a lot of fraud. that fraud will occur anyway. secondly, i think the other side of the coin is we want to have internet gambling, which would be poker possibly, there will be all kinds of gambling on the internet. for people that are addicted to gambling, they have the computer in their study in bedroom in this addiction would increase, so the trade-off is -- host: you are saying it would be too easy? guest: and also, children could get into it. children have a problem with pornography abou
do we need to do better as a country? absolutely. let us give credit where credit is due. there are over 200 people murdered in colombia several years ago. less than 20, so far this year. the for my friends to suggest that somehow this language that the country and the president of colombia have agreed to should somehow be attached to hr free trade agreement is devoid of the reality of what a trade agreement is. no trade agreement that this congress has passed in the history of this country has included language to dictate what the other country is about to do or required to do. rather, our trade agreement by definition is the language in which our country is agreeing to a set of principles, a set of actions. so for my friends on the other side to suggest that the good work, the good gestures, the promises of the santos administration of the colombian congress could show how -- should somehow be amended and adopted to our trade agreement is not only setting a double standard but is breaking from past practice of how we past trade agreements and negotiate good faith with o
think so brilliantly in helping us to confront this financial crisis, so i would like to see what the fsoc report says about what americans can hope for and plan for, for a more stable future financially, and thank you for your service. >> i don't think i can improve on how you said it. what the financial reform law does is establish the basic protections we did not have to prevent americans from being victimized from not just fraud and abuse from per dation, but from the type of risk taking we saw that almost brought down the american financial system i am very confident with these reforms we little l build something that's going to benefit more than the average working person but businesses to raise capital and we've all seen what happens when you get that basic balance wrong. it hurts everybody, not just the impruden't but the innocent victims in this sense. what i would say generally is you should be demanding better results from washington in things that can help the economy now, because even with the strength of those reforms in the financial system and the progress we've he
that has given voluntarily to a federal candidate or a state candidate. the money that we use, the dues money used for political or legislative action is with our members to educate them, mobilize them. it does not go to party structure or anything else. i appreciate you making that comment, because i did not make that clear, shame on me. host: richard t t t >> timothy geithner is next on c-span. the pentagon would limit the obama administration ought chance for trying terrorist detainees. we hear from the defense department general counsel. >> 6 republican presidential candidates travel to des moines. and water are live coverage as well as governor rick perry and ron paul and michele bachmann. >> treasury secretary tim geithner is questioned about the jobs package, the current tax code and leadership on the economy. he testified at the small business community chaired. this is two hours and 20 minutes. >> one year ago, senate democrats and it two of our republican colleagues battled for months to pass a small business jobs act of 2010. it has been called the most significant piece of l
these guys live. seriously. because it's not in the neighborhoods that i grew up in or any of us grew up in. ladies and gentlemen, the consequences of these losses are real and they're now. but the interesting thing is why i say this is simple, this is very, very simple. there's a solution. we can do something about it right now. it's not rocket science. right now. what's being proposed, and my colleagues are pushing is to put 400,000 educators on the job right away. to put 18,000 cops back on the street. and to put 7,000 firefighters back in fire houses. >> my dad used to say everything is about priority. here are the choices. not even a very hard choice. these guys came up with a solution. if you add one half of 1% surtax on the -- it doesn't affect those who make $999,999. it doesn't affect anyone who makes $999,999.00, it only affects that one dollar. that's the only thing the rate goes up on. so let me put this in perspective. if you make $1.1 million when god willing this passes you will pay next year $500 more in taxes. you got that? now the average income for the group of people we'
in the wall street journal, had the u.s. economy recovered the way it bounced back from the other 10 recessions, are gdp would be $3,553 higher than it is today. 11.9 million more americans would be employees. they have been unemployed since the longest since we kept record in 1948. we are facing the worst post session recovery in the history. it requires a sense of urgency. we've looked at the recovery during the reagan years. we would have had approximately almost 60 million jobs created. when they failed to solve the crisis that has mushroomed, it is long past time for alarm bells to sound. one has to dig deeper to and are the causes. it is a fair to deal with the engine of economic growth. if you listen to these businesses, as i do and my main they will tells, you there are the two main issues of tax reform and regulation. this is what is driving this. there is no reflection of that urgency or the impetus to move in a direction to reform my tax code. you said recently the idea that they're regulating them without foundation. they cited the regulatory impasse. with that 50,000 sin
. and those of us who say these are onerous regulations, that is rick clause. is what we are doing going to keep them well? let's examine that and see what we think. i have shown this map before, but this is a very, very informative map. it tells you the percentage of mercury disposition that originates outside of the united states and the red is somewhere between 78 and 100. so in the areas that are tipted red there, the mercury that is in those areas, between 100% and 78% comes from outside this country. the prevailing winds blow the mercury from the area where there is no restrictions and no clean air and that would be communist china and india. they choose to like that. that's their choice. but their pollution blows to our country. the yellow is from 78% to -- looks like 58%. between 58% to 78% in the areas marked in yellow and green is 58% and 19%. that's foreign pollution in that area. and the blue, very little blue, few dots you can see in the east coast, the blue is 19% to 0% is foreign pollution. so with that much mercury as the example coming from other sources, putting the kin
are increasing in that period. all of the groups will agree with us. but we cannot make united organizations. the main goals, not organizations. >> are you going to go outside of the balance of these local organizations and across the entire egyptian territory? >> we tried to do that. we have been talking to people every day. we try to get members, we try to talk with the people to join any organization. and we would take time to do that. >> what can the elected do, if you see any role for them at all? -- what can the u.s. do, if you see any role for them at all? to stop the counterrevolutionary activities? [speaking arabic] >> i do not agree with pressure using americans only. before the revolution, there were supporting mubarak. the considered him the solution. -- they considered him the solution. the key of many issues in egypt. during the revolution, we saw the direction of the american government just watching who is the winner. they will support the winner at the end. i think they support the government. the talk about their rule and the schedule and things like that. i think mainly su
being used to encourage the appropriate and correct energy policy. however, there's one thing missing. where are those pieces of equipment made? where is our tax money going? where is it going? is it going to american-made solar panels? american-made wind turbines, or is it going to solar panels that are made in china? or germany? korea? where are those solar panels made and where is that gigantic wind turbine made with blades 300 feet across? are those made in america? our tax money is using it to buy it. this is my legislation. house resolution 487. and it says this. if you're going to use our american tax money, your tax money, my tax money, the american tax money, if you are going to use that tax money to subsidize the purchase of a solar panel, a wind turbine, a bio-elect system, then that tax money is going to buy american-made equipment. we are going to use our tax money to buy american-made equipment. and i think we ought to be passing this with the american jobs act. if we are going to be spending $50 billion, it ought to be american-made concrete and steel and we can make it
as we had hoped that they would. we hoped. it used to be that american with a drawl was conditioned on success. now it seems withdraw has been the definition of success. if that is the case, success in afghanistan will feel like failure. ideal bat. -- thank you. >> we will welcome the secretary today. she has served as the 67 the secretary of state for the united states since january 21, 2009. she has served previously as the united states senator from new york and first lady of the united states and the state of arkansas and is an attorney and law professor. your full statement will be made a part of the record. if he could be so kind to summarize the written remarks to commit directly to the question and answer discussion on this by minute role in health seeking get as many members as possible. welcome. the floor is yours. >> thank you. to the members of the committee, i appreciate this opportunity to appear before you. >> i want to start by recognizing the concerns that many of you have about afghanistan and pakistan policy. you and the american people are right to ask questions,
. and as a consequence, by the way, all of us are struggling, even those who are well off. the irony is the same folks that the republicans claim to be protecting, the well off -- the millionaires and the billionaires -- they'd be doing better, they'd be making more money if ordinary americans had some money in their pockets and were out there feeling more confident about the economy. that's been the lesson of our history -- when folks in the middle and at the bottom are doing well, the folks at the top do even better. >> is this kind of public pressure the only leverage you have, sir? >> look, we have a democracy. and right now, john boehner is the speaker of the house and mitch mcconnell is best arguments and mobilize the american people so that they're responsive. so far they haven't been responsive to not just me but public opinion. we saw that during the debt ceiling vote. but we're just going to keep on making the case. but i guess what i'm saying, though, here, bill, is -- and i said this when i made my speech at the joint session -- the election is 13, 14 months away. i would love nothing more
to stop a terrorism act on u.s. soil. i want to praise the agencies involved in the investigation. they did not engage in armchair quarterbacking about whether the suspect should be sent to guantanamo bay. a terrorist attempt to blow up an airplane on christmas day, some politicians used the occasion to criticize the attorney general after the suspect was arrested and made all kinds of claims, none of which came true. people are asking why he was given miranda rights. if someone is going to confess, they will confess given the miranda rights or not. it is more difficult to make them stop talking. we got a lot of useful intelligence from the suspect. people complain about him going to federal court. he showed -- we showed that our courts work, they are open. he pled guilty and faces a potential life sentence. prosecution can feel happy that they followed the way they did and not listen to the monday quarterbacks. he now faces a potential life sentence. that means more than 400 terrorism cases prosecuted by the department of justice since september 11, 2001. the president and the na
are concerned about you end up with his u.s. system and then our capital flees because why deal with this if you can find less resistance in singapore or a g-20 country? soon after that, i am reading an article and i probably will butcher his last name but michael grenier of the european union said this. we don't support the same approach. he said that is not what we are going to do. he really kind of put down what we had done in the united states. so what assurance can you give me that the g-20, with all of these other problems that and have -- there are economy threatening problems for that part of the world that in the midst of that, they are sitting there trying to figure out how to put the volcker rule in place and how to put this rule in place, etc., and following the leadership of the united states. >> senator, let me just a first of all, i could not share more fully your concerns and your determination to make sure that as we move to put in place the mechanisms to ensure the vibrancy and resilience of our system, that we move in lock step to ensure that other financial centers around the
on women and this bill will put more lives at risk, isolate us from women who have no money, who are poor, especially women of color, who have become central targets of these efforts. evidence of this is seen all over the country and in the form of very offensive billboards that denigrate women in my own district, which we fought against and were quickly taken down. by trying to use a combination of law and guilt, these efforts undermine the bambing health care -- basic health care rights of women. black women make decisions every day whether to parent or not. those who think they should dictate our choices won't be there when the child is is born to get better education, increased child care, keep our kids out of jail, send our kids to college or get affordable health care. this war on women must stop. we must not allow the republicans to turn back the clock on women, on choice and access to health care. i urge my colleagues to fight this war. fight against tchess unnecessary and these harmful initiatives that keep coming forward that continue to do damage to women and continue to erode
, and terror was used as a political weapon. today, we can definitively say that the gaddafi regime has come to an end. the last major regime strongholds have fallen. the new government is consolidating the control over the country. and one of the world's longest- serving dictators is no more. one year ago, the notion of a free libya seemed impossible. but then the libyan people rose up and demanded their rights. and when gaddafi and his forces started going city to city, town by town, to brutalize men, women and children, the world refused to stand idly by. faced with the potential of mass atrocities -- and a call for help from the libyan people -- the united states and our friends and allies stopped gaddafi's forces in their tracks. a coalition that included the united states, nato and arab nations persevered through the summer to protect libyan civilians. and meanwhile, the courageous libyan people fought for their own future and broke the back of the regime. so this is a momentous day in the history of libya. the dark shadow of tyranny has been lifted. and with this enormous promise, the
of state and ultimately chief justice of the u.s.. he is one of the 14 men featured in the new series, the contenders, live at the supreme court building in washington d.c., friday at 8:00 p.m. eastern. for a preview of about hughes, watch a video at our website, c- at his news conference, president obama urged congress to support his $447 million jobs bill. other topics include china's currency, relations with pakistan, and europe's debt. from the east room of the white house, this is an hour and 10 minutes. >> good morning, everybody. i will take your questions in a second. i want to say a few words about the economy. next week, the senate will vote on the american jobs act. by now, i have made my view is well known. some of you are keeping a tally about how many times i have talked about the american jobs act. the reason i keep going around the country talking about this is because people really need help right now. our economy needs a jolt right now. this is not a game. this is not the time for the usual political gridlock. the problems that europe is having could have a
. that is our cost. it does not include the justice department costs. congress gives us the ability to finance removal of 400,000 people year. we can just removed anybody without any priorities, and that would be one way to do it. or the other way, the better way, and probably the way you ran your office when you were a prosecutor is to say we want to focus on expediting the removal of those who are criminals, those who are fugitives, of those who are repeat violators, of those who are recent entrants, meaning within five years, into the united states. what you are now seeing is that of the numbers reflect those priorities. >> well, you have a problem with more rale and i am confident -- i think the officers feel like you spend more time talking with the activist groups then the officers themselves and drafting guidelines to help them do their job. thank you, mr. chairman. sorry to run over. >> senator coons? >> thank you, madame secretary, for your testimony in front of this committee, for your discipline and determined leadership of this remarkably far-flung and brought agency. in difficult
% of americans have seen a concentration of wealth as opposed to the very middle of america. can you give us a synopsis of what you found? >> we found very pronounced widening of the income distribution in this country with reductions in the share of national income going to the bottom 4 quintiles and a large increase, roughly doubling, of income going to the top 1% of the population. >> i see that my time is about to expire and i thank you. >> let me read to you an e-mail that was sent to interested hill staff from the congressional budget office on september 17. the subject is hhs class announcement on the cbo baseline. " friday, the secretary ofhhs does not plan to institute a long-term insurance care program under current law. on its next baseline, budget projections would be issued in january, cbo will assume the program will not be implemented. unless there are changes by the administration that would supersede the friday announcement. furthermore, following longstanding procedures, cbs takes new and administrative actions into account when analyzing legislation being considered by con
servicer will use to ensure that every single borrower in district is identified going forward? i know this is a lot. you get the drift. >> the engagement letters are being developed. they will be carefully reviewed. >> do you have a timeline? people are losing their homes. cracks the letters are being reviewed. the process is already under way. they are already reaching out to find people. there's something this morning about that. they have already made progress in improving their operations and addressing the worst abuses. we are well advanced in getting the formal agreement. >> i want to note >> thank you. >> in a few moments, like chris christie says he will not run for president. in about an hour, haley barbour on the gop economic agenda. them president obama urges congress to pass the jobs bill. he was in texas today. later we will reach their ben bernanke's testimony about the economy. >> tomorrow morning we will talk about the future of energy programs with the ranking member of the energy subcommittee on oversight. he will take your questions to combat narcotics traveling. he
. they said it that is what you want to do, it'll be fun. my son said it will be a great adventure for us if you decide to do it. it was not a family decision. they laid it all on me. >> are you worried about ruining your chances of running for president? >> listen, what i care most about is the country. the country will be better by making sure that president obama is a one-termer. i do not worry about that at all. i do not believe you can. i have a great job. we made great progress. whatever the future holds, the future holds. it probably did not speak this two years later. life takes you in a bunch of different directions. >> [inaudible] >> you cannot make these decisions with any regret. the regretful being the governor of new jersey. i have a great job. i love doing it. i have a lot of great things to accomplish. i do not feel any sense of regret at all. i felt like it was my obligation given the amount to people who ask the -- were asking me to reconsider. i thought a lot about this. i came back to the same place i was in the whole last year. i do not want to leave this job. i made
. they are the men and women who teach our children and protect our communities and risk their lives for us every single day. they are heroes. and they deserve our support. and it would be good for all of us. it would give the entire economy a boost. so this is the fight we are having right now. this is frankly what the next year will probably be about, the republicans in congress and the folks running for president making their agenda crystal clear. they have two basic economic priorities -- two basic proposals. tax cuts for the wealthiest individuals and the biggest corporations, paid for by cutting education investments and research and our infrastructure, all the things that helped make america an economic superpower -- weaken programs like medicare and our basic social safety net. that is one proposal. and the sec proposal is to got just about every regulation that you can think of -- and the second proposal is to gut just about every regulation you can think of. we have already identified 500 regulatory reforms that will save billions of dollars over the next year. but we cannot do and what
method to use. i would want to figure out my own. i would be willing to consider anything the federal government told me to do. i would not mind persuading the education secretary that it was a good idea, and i would expect him to further my agenda, unless i was lazy and incompetent. >> what we're talking about here is the bottom 5%. i'm not talking about every school in america. we have again reduced the federal footprint. we want to identify those bottom 5%. we expanded the turn-around model from 4% to 6%. the other option is not rigorous. we always want to do the least possible to get through. well, ok, but that was covered in every school. we're not doing that now. we're only focusing on the bottom 5%, the drop-out factors. my friend from tennessee is always talking about not having a secretary who is a czar. we're talking about schools in the bottom 5% to come up with some other option and let the secretary decide. it seems to me that we are trying to pass legislation that transcends whoever the secretary might be. it might be arnie duncan, it might be someone else. who knows who
to court, but only because they have done what he and bp and the a lot of us have asked through that process. so that is a concern mr. chairman. i yield back. >> you have 22 seconds. >> i ield the balance of my time. >> next when the gavel dropped we had a onmember the committee here and i'm going to recognize him, mr. bonner, for five minutes. >> thank you chairman for allowing me to be a member of the committee. i voice wanted to be and i'm glad to fulfill that promise today. for the record, as has been noted i've had an opportunity to have a lot of experience with mr. feinberg and, while there has been effusive trays and at times even sympathy for the task he has been assigned, i would provide everyone that mr. feinberg -- $1.4 million a month. >> 1.250. i just lop top 150,000. >> regardless it is a generous amount of money to administer, and while it is sick obligated process i think mr. feinberg is realized it is ev more competition than the 9/11 project in many ways with 1 million claimants. it is not a perfect system. if anything, it is a very -- in so many promises have
. are the tradeoffs good trade house for us? >> thank you. >> on april 13, the federal reserve board and the federal insurance corp. issued a joint report summarizing results of a horizontal review. you found critical weaknesses. foreclosure documents and oversight and monitoring of third-party vendors which resulted in unsafe and unsound violations. simultaneously, it you entered into a consent orders with these third-party service providers which required them to take steps to correct the problems identified. they were required to conduct a thorough review of actions that were pending through december 30 to identify borrowers that have been financially harmed by practices. i understand retention of these firms in the process was required to be spelled out in engagement letters that they have to approve. what is the status of these engagement letters? have all of the banks maintained their firms? have they spelled ups the manner? how you respond to the criticize -- criticism is that they were overly vague and allow them to develop their own plans? >> what is the methodology that each servicer will
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